Raymond Limited has informed the Exchange about General Updates
RAYMOND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CARE Ratings has assigned and continued ratings on JKFEL's bank facilities and instruments totalling about ₹510 crore, all placed on 'Rating Watch with Developing Implications' (RWD). This includes a newly assigned ₹300 crore long-term term loan, continued ₹69 crore cash credit (AA-/RWD), ₹41 crore short-term facilities (A1+/RWD), and ₹100 crore NCDs (AA-/RWD). The RWD status stems from Raymond's ongoing corporate restructuring — the demerger of its real estate business to Raymond Realty Limited (completed May 1, 2025) and the planned consolidation of auto, engineering, defence, and aerospace businesses. JKFEL's FY25 revenue doubled to ₹1,834 crore led by auto components and MPPL consolidation, but PBILDT margin moderated to 12.65% and PAT fell to ₹27 crore. Gearing remains elevated at 1.78x following the debt-funded MPPL acquisition, though parent Raymond holds ₹770 crore in cash providing liquidity comfort.
Neutral for Raymond shareholders — the ratings remain investment grade (AA-/A1+) and apply to a subsidiary, not the parent. The RWD reflects structural uncertainty around the post-restructuring group entity, not credit deterioration. Investors should track the pending NCLT order and the outcome of the engineering business consolidation for clarity on the final credit profile.